I thank my friend and colleague Senator Ross for generously allowing me some of his time. I echo what he said about the stability pact. It was a political decision in one respect, but it was a very bad one. If one looks back to the time when Ireland was an applicant to various aspects of the European project, Germany was the country that was toffee-nosed about it. It was not at all sure that we would be able to meet the criteria. It had a strong deutschmark and we all had to live up to its standards. Now, apparently, it can break the pact with impunity because it is a strong country. This is causing real worry for those with mortgages in Ireland, for whom I have great sympathy. I have been able to pay off my mortgage – this is a luxury – and am glad to say I am not in their position. Those who have bought houses with low rates of interest on their mortgages, particularly young people, will be in very serious trouble. The economy could also be in trouble if we have negative equity and the value of houses drops.